He pointed out that total assets of the tax-exempts dropped for the week by $720 million, to $92.7 billion.

The assets of the 245 general-purpose funds dropped by $151.5 million, to $132.40 billion.

As as result of more than 200 failures, the agency's assets dropped for the first time.

The company's nonperforming assets dropped by 38 percent, to $228 million for the quarter.

Its assets will drop to a level of from $8 billion to $9 billion.

In the tax-free sector, assets dropped by $506 million, to a total of $63.1 billion.

The firm will be paid the $300 million unless the fund's assets drop below $20.5 billion.

The assets of the tax-exempt funds dropped by $760 million, to $97.4 billion.

From a high of $865.5 million in 1986, assets dropped to $292.1 million by June 30.

Total assets in those funds dropped by 23 percent, compared with 13 percent for the rest of the industry.